Eurobench.com

voda 30 augustus 2015 14:35

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South Africa approves recommendations of 10% import tariffs on Chinese steel

SABC reported that South Africa’s Trade and Industry Minister Mr Rob Davies has approved recommendations to increase a 10 % import tariff on some cheap Chinese steel imports. Mr Davies' move follows an application lodged by steel majors ArcelorMittal and Safal Steel.

The application is based on a political agreement reached a week ago between economic clusters ministers, the steel industry and sector unions National Union of Metalworkers of South Africa, Solidarity and United Association of South Africa, to protect South Africa from duty free or zero tariff Asian steel imports.

Government had imposed the duty free regime after the industry refused to scrap import parity pricing of locally manufactured steel. The latter refers to a strategy of marking locally made products as if they have been imported from abroad.

The application has been granted on condition that steel prices remain affordable and that there will be no retrenchment over the next three years.

Source : SABC

voda 30 augustus 2015 14:36

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Atlas Iron up on positive cashflow

The West Australian reported that shares in Atlas Iron rose after the embattled iron ore miner said it had lowered its operating costs and was generating positive cashflows. Atlas said it had cut its cash costs in July to $55 per wet metric tonne (cost and freight) against an average realised price of $57 per wet metric tonne (cost and freight).

It said “Based on cost estimates for August and forward pricing arrangements in place for this month, we expect to generate increased cashflow for August relative to July.”

Managing director Mr David Flanagan said the cost reductions reflected the success of the contractor collaboration models in place at the company’s Wodgina and Abydos projects.

He said “The collaboration agreements are working. Costs have fallen and our mines are generating positive cash flow. The Mt Webber mine has achieved ramp up in August and we look forward to shipping more tonnes and further reducing costs.”

Atlas said it remained on track to achieve an export run rate of 14-15mtpa by December.

Source : The West Australian

voda 31 augustus 2015 16:32

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EU cuts AD duties against Taiwanese stainless steel firms

The European Commission, the executive body of the European Union, has issued a financial ruling to lower anti-dumping duties against Taiwan's stainless steel cold-rolled flat product exporters, according to the Ministry of Economic Affairs (MOEA).

Citing the Official Journal of European Union dated Aug. 27, the MOEA said the European Commission has lowered anti-dumping tariffs against Taiwan's SSCR exporters to a range between zero and 6.8 percent from a preliminary ruling in March which set the tariff range at 10.9 percent to 12 percent.

According to the final EU decision, Taiwan's Chia Fa Industrial Factory Co has been freed of such a financial burden, witnessing the complete removal of the anti-dumping tariff from an earlier 12 percent. The anti-dumping financial penalty for Tang Eng Iron Works Co and Yieh United Steel Corp has been cut to 6.8 percent from 10.9 percent, while other Taiwanese firms also benefited from a tariff cut to 6.8 percent from 12 percent, the final ruling showed.

In the same decision, however, the EU has raised anti-dumping tariffs against Chinese SSCR exporters by 0.1 percentage points from the March ruling to range between 24.4 percent and 25.3 percent.

The MOEA said that it has been delighted to see the financial burden shouldered by Taiwanese SSCR exporters reduced as the EU has been the largest buyer of Taiwanese SSCR products in the world.

In 2014, Taiwan's SSCR exports to the EU market totaled US$611 million, up 38.57 percent from a year earlier. The EU's consumption accounted for 32.13 percent of Taiwan's total SSCR exports last year. In 2013, Taiwan's SSCR exports to the EU rose 20.82 percent from a year earlier.

Source : Focus Taiwan

voda 31 augustus 2015 16:33

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Chinese steel production halt to have limited impact

The Hindu Business Line last week reported that while China is set to halt production of steel for over a week but this brings cheer neither to Indian steel makers nor to iron ore miners.

Senior Steel Ministry officials, who are monitoring the situation, say domestic producers can benefit only if the shutdown is for a longer duration.

The report quoted an official as saying that “A shutdown of 7-10 days won’t have a major impact on our situation. Imports will continue from South Korea and Asean countries that have free trade agreements with India. Also, even if production is cut, Chinese inventories will continue to flow in. Production has cooled in recent months, but there is still so much overcapacity that the pressure on global prices is unlikely to lift anytime soon,” the official added.

According to reports in Wall Street Journal and Chinese news agency Xinhua, Beijing has ordered factories to remain shut or cut production from August 28 to September 4 in preparation for a parade to mark the 70th anniversary of the end of the Second World War, on September 3. With the idea of having clean air for the dignitaries, it has also ordered construction work stopped.

Source : The Hindu Business Line

voda 31 augustus 2015 16:35

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Odisha based MoU steel plant take only 59% of OMC allocated iron ore in Q1

Business Standard reported that steel industries in the Odisha state lifted 59.2 per cent of the iron ore allocated by state controlled miner Odisha Mining Corporation in the April-July period of tis fiscal. OMC allocated 0.95 million tonne for 18 MoU signed steel units for the April-July period. These units actually lifted 0.56 million tonnes in this period, according to a written statement in the state assembly by steel & mines minister Prafulla Mallick.

The ore allocated by OMC was despatched to steel units like Bhushan Steel Ltd, Bhushan Steel & Power Ltd, Visa Steel, OCL Iron & Steel Ltd, Maithan Ispat, Action Ispat & Power Ltd and Aarti Steels Ltd to name a few.

Many steel makers have shied away from auctions conducted by OMC due to its prohibitive floor prices. In the last auction by OMC, floor prices of lump ore and iron ore fines were pegged at Rs 2,600 and Rs 1,700 per tonne. The auctions had tepid response since the steel firms complained that prices were too high and were not in sync with the prevailing market prices. OMC had offered 120,000 tonne of iron ore lumps and 60,000 tonne of fines from its flagship Daitari mines.

OMC's inventory of iron ore lumps and fines has more than trebled from 57,641 tonne (in October 2014) to 171473 tonne by the end of May this year due to lukewarm response to auctions. Most steel companies in the state were running their plants without iron ore leases and hence, were dependent on OMC for iron ore supplies. But, steep ore prices have prompted these companies to cut capacities drastically. The steel units were operating at hardly one-third of their capacities. Pellet makers, also were in the same fate with a capacity utilisation of only 30-35 per cent.

The state government has inked memorandum of understanding (MoU) with 48 steel firms of which 32 have already commenced partial or full scale production. Steel firms had grounded investments of more than Rs 1.25 lakh crore on their projects in the state.

Source : Business Standard

voda 31 augustus 2015 16:38

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30% steel units in Mandi Gobindgarh have closed down

The Tribune reported that more than 30 per cent steel and furnace industries in the steel town of Mandi Gobindgarh have closed down as the state government has failed to introduce a favourable industrial policy. As per report “Out of the total 450 steel and furnace units, nearly 160 units have already shut down or shifted to some other states during the past eight years”.

Unable to bear the heavy losses, about 15 to 20 per cent manufacturers have already put their furnaces up for sale but have failed to find any buyers. The ones that are still operating have decided to cut down their production by 50 per cent to minimize their losses.

The ban on mining and shortage of scrap supply has pushed the steel furnace industry to the brink of closure as the demand for the steel has gone down by 50 per cent. Almost all the industrial units are operating only one shift a day, forcing the labourers to sit idle or move out to industrial towns in neighboring states in search of a job.

According to estimates, more than 50,000 workers in more than 500 furnaces will be rendered jobless if the industrial units close down their operations.

The big and the small re-rolling and furnace industries in Mandi Gobindgarh, Amloh and Khanna are facing shortage of steel scrap as the scrap dealers from other states had stopped the supply after the introduction of e-billing by the Punjab Government. Industry owners had been opposing the move tooth and nail on the plea that this would force industrialists to shift their units to the neighboring Himachal Pradesh.

The nearly 400 rolling mills here are serving 20 per cent of the secondary steel market of the country. There are about 160-180 induction furnaces producing raw material for the rolling mills. There are about 25-40 forging units catering to the needs of the steel rolling mills, sugar and paper industry. There are 50 foundry units, 100 scrap cutting units and 15 oxygen plants catering to the requirements of the industry.

The failure of the Punjab State Power Corporation Limited (PSPCL) to provide uninterrupted power supply to the industrial sector is a big reason for the pitiable condition of the industry.

The imposition of electricity duty of 5 per cent will prove the final nail in the coffin of the remaining small scale industries in the state. Despite depositing advance power consumption charges, consumers have not been able to get sufficient power to run their units uninterrupted. District Industries Officer Gurdas Singh said that at present, 245 steel re-rolling mills were running in the town while about 160 units have either closed down or shifted to J&K or Himachal. He said some manufacturers were running their units as and when demand for steel increases and engage labourers and technicians on contract basis.

Source : The Tribune

voda 31 augustus 2015 16:39

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Bargaining and mobilizing to continue by USW in ArcelorMittal negotiations

Published on Mon, 31 Aug 2015 118 times viewed

Steelmarketupdate.com reported that the USW issued an update Friday on ArcelorMittal/USW negotiations. At this time the USW negotiating committee intends to remain at the bargaining table rather than seeking strike authorization from the membership.

The update reads as follows:

Our committee continued to meet both internally and with ArcelorMittal management this week in Pittsburgh. Although we are far apart on a variety of economic and non-economic issues, we are encouraged by the overall direction of our most recent discussions.

With our Sept. 1 contract expiration approaching, our committee has chosen to remain at the table and continue to negotiate rather than return to our plants to seek strike authorization from the membership. As long as we are engaged with management, we ask all USW members to continue reporting for work as scheduled.

Please remember that above all, we must stay focused on working safely and watching out for the safety of our coworkers. Especially as we near contract expiration, please review and adhere to the safety procedures established in your area and speak up if you have concerns.

Source : Steelmarketupdate.com

voda 31 augustus 2015 16:41

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EU stainless steel duties do little for embattled mills

Reuters reported that a European Union recent move to cut nearly a fifth of stainless steel supply via antidumping duties has given the bloc’s mills only modest support as they continue to battle stubbornly poor demand and a China-led growth slowdown.

The EU in March slapped antidumping duties on cold-rolled stainless imports from China and Taiwan, and sources say sales from the two countries, which made up 17% of the market in 2013, have since collapsed. Also a boost for mills, Europe’s top stainless steel maker, Outokumpu, shut down its German Bochum melt shop in June, removing about a tenth of EU "melt" or crude capacity.

The two factors mean mills are now using about 80% of output capacity, analysts say, versus about 70% in 2013. In theory this should boost their pricing power, but stainless base prices have been flat this year on lackluster end-use demand and as distributors have held off restocking in the hope of further nickel price falls.

Longstanding concern over global contagion from slowing Chinese growth culminated in widespread investor panic this week despite the increasingly radical measures taken by Beijing to avert a hard landing. China accounts for half of global stainless consumption and its downturn has hit its stainless usage hard, pushing nickel prices to six-and-a-half-year lows. The fall has in turn sent global stainless prices to year lows, hurting nickel.

Source : Reuters

voda 31 augustus 2015 16:43

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TATA Steel warns on closure of coke ovens in Scunthorpe

Scunthorpe Telegraph reported that the Environment Agency has been warned that coke-making on Scunthorpe's Tata Steel works could cease for at least three years if the company was forced to build new plant to comply with an industrial emissions directive from the European Union. The company has also revealed the cost of rebuilding the town's ageing coke ovens, incorporating gas desulphurisation, would run into several hundreds of millions of pounds. Currently the ovens at Appleby-Frodingham and in Dawes Lane produce more than one million tonnes of coke a year.

The Scunthorpe works is seeking derogations over implementing best available techniques for its coke ovens, some of which date back to 1938. Tata Steel has revealed subject to its capital planning process, it is planned to install coke oven gas desulphurisation units at Scunthorpe. But it has stated it would be impossible to have the new plant operational at the two batteries of coke ovens before March 2016, the default deadline for the final permit to be issued by the Environment Agency. It is expected that all the coke oven gas produced in the town will be desulphurised by no later than January 2022. The company has calculated the net cost of ceasing coke production in Scunthorpe next March and building new plant to incorporate gas desulphurisation would be GBP 833 million.

In its bid, Tata Steel states: "In the medium to long term, major capital expenditure will be required to maintain coke production at Scunthorpe and the current configuration cannot be assumed to continue indefinitely. Any investment in pollution abatement at the existing plants may therefore have a more limited operational lifetime than would be the case at a new installation. The combination of potentially lower benefits and higher costs means that the costs of achieving best available techniques are disproportionately higher than the environmental benefits. Achieving all the best available techniques at Scunthorpe would be less cost-effective than at more typical European plants."

The response came after the agency last month issued a draft permit for the Scunthorpe site to carry on steel-making. That permit is still under review for comment and corrections and Tata Steel is seeking an extension until September 30 to make a formal response. Extra time is said to be needed due to the complexity and detail of the permit.

Agency chiefs are currently considering the request and public consultation over the proposed anti-pollution measures for the Scunthorpe site are not now expected to start until October.

Source : Scunthorpe Telegraph

Bijlage:

voda 31 augustus 2015 16:48

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ASSOCHAM warns of impact of China on Indian steel sector

Industry body Assocham said that the troubles in China are expected to spell disaster for the Indian steel industry as desperate Chinese manufacturers would aggressively dump their products abroad. According to a study by the business chamber, steel shipments to India from China have registered a growth of 232 per cent.

It said "China has 400 million tonnes of surplus capacity against a demand of 741 million tonne, which is more than 50 per cent of its requirement. The excessive capacity in China is four times the total capacity of India and in 2014, steel exports from China were 93 million tonnes in total, increasing by 50.5 per cent YoY.”

It said “India's steel imports have risen by over 71 per cent in 2014-15 (compared to 2013-14) and the trade deficit only in terms of steel has widened by USD 3.66 billion. Specifically, China's steel imports coming into India in 2014-15 surged by over 232 per cent and the trade deficit with China alone widened by USD 2.66 billion.”

India's imports of defective steel and seconds increased by 30 per cent in 2014-15. Such imports of HR steel alone witnessed a sharp rise of 99 per cent along with CR rising by 81 per cent, it pointed out.

It said "Further, with devaluation in yuan, the impact is being felt on Australian, Taiwanese and Japanese currencies as well. This would make Chinese exports cheaper creating more room for their surplus steel in growing markets like India.”

Assocham Secretary General Mr DS Rawat said "Globally, countries which have become victims of surplus, cheap and non-standard steel from steel-surplus nations are seeking various kinds of trade remedial measures on steel imports mainly from China, Japan and Korea. There are over 400 trade actions taken across the world with majority focused on China. Every country has become a prey to China's unfair exports and have been taking safeguard, anti-dumping or CVD route to counter the surplus steel entry.”

Source : Deccan Herald

voda 1 september 2015 16:35

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Altijd maar weer die GS! :-)

Analysts bearish on copper as China growth prospects weaken

Bloomberg reported that copper prices fell in August for a fourth straight month, the longest streak since the global financial crisis, as concern that the economic slowdown in China will deepen helped dim the outlook for the metal. Stock market turmoil, a surprise currency devaluation and weakening economic indicators in China, the world’s largest metals consumer, have dominated trading sentiment this month, pulling prices to a six-year low.

On Sunday, Goldman Sachs Group Inc. cut its growth forecast for China. Goldman Sachs reduced its 2016 growth forecast for China to 6.4 percent from 6.7 percent amid a weaker export market, tighter credit conditions and restraint in local government infrastructure activity.

Mr Tim Evans, the chief market strategist at Long Leaf Trading Group In, said in a telephone interview from Chicago “The Chinese story obviously sent a shock wave through the whole market that has carried to the U.S. and in my view has rattled investors. Chinese numbers are getting worse and worse.”

Mr Frank Cholly, a senior market strategist at RJO Futures in Chicago, said by telephone “Everything seemed to move in unison as crude just exploded. We saw a little bounce across the board, including copper, after a lot of red this morning, and now it’s mixed.”

Source : Bloomberg

voda 1 september 2015 16:37

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NRW Holding reports losses at Roy Hill iron ore project

The West Australian reported that NRW Holdings’ crippling contract dispute at the Roy Hill iron ore project has seen it burn through $120 million cash in the past year and revamp debt facilities. After turning in a $230 million annual loss, the civil and mining contractor conceded it would make an unspecified loss on the $620 million rail works project.

Project manager Samsung C&T withholding payments for the past four months because of the dispute has put NRW under considerable financial pressure. Samsung has contested adjudications in NRW’s favor of about $26 million, with further claims pending. The WA contractor laid off more than 2200 employees, over 70 per cent of its headcount, during the financial year.

NRW said “The Roy Hill rail contract loss recognizes that it is unlikely that an outcome can be negotiated which supports a position where the company can at least recover costs incurred on the contract.”

MD Mr Jules Pemberton said NRW was seeking a fair commercial outcome through talks with Samsung, Supreme Court action and the dispute resolution process. He said “The business has managed through the cash flow impact of Samsung’s decisions to restrict payments to NRW on the Roy Hill rail contract since April, has continued to make all debt repayments when due and is in compliance with banking covenants.”

While the net loss included non-cash impairments of $157 million, NRW’s cash losses are significant. It held $35 million at June 30, compared with $155 million a year earlier.

Source : The West Australian

Bijlage:

voda 1 september 2015 16:37

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Platts iron ore assessment forms basis of new contracts at SGX

The Singapore Exchange is utilizing the Platts 62.5% Iron Ore (Fe) China Spot Lump Premium assessment as the settlement basis for its new swap and futures contracts launched.

Annalisa Jeffries, associate editorial director of metals markets at Platts, said “We’re pleased to be a recognized source of independent price references for the spot physical and futures markets and to play an instrumental role in the iron ore market’s continued evolution. With the lump premium tending to be 15% to 30% of the total price and spot trading of iron ore increasingly more active, market participants have been eagerly awaiting new derivatives contracts as a means of mitigating physical trading risk through hedging in lump.”

SGX’s two new Platts-based contracts are:

SGX Platts Iron Ore CFR China (Lump Premium) Swap, reflecting the value of the 62.5% Fe iron ore lump premium expressed over the Platts 62% Fe Iron Ore Index (IODEX) base and delivered on a cost and freight (CFR) basis to Qingdao.

SGX Platts Iron Ore CFR China (Lump Premium) Index Futures, reflecting the value of the 62.5% Fe iron ore lump premium expressed over the Platts 62% Fe Iron Ore Index (IODEX) base and delivered on a cost and freight (CFR) basis to Qingdao.

In its August 6announcement of the derivatives contracts and the choice of the Platts assessment as the basis for settlement, SGX said its aim is “to provide a more effective hedging instrument for iron ore and steel market participants in the global iron ore lump market.”

The Platts 62.5% Iron Ore Spot Lump Premium has a price history dating back to May 15, 2013.

With this launch, physical price benchmarks published by Platts and its unit The Steel Index are now the basis for settling SGX commodity contracts for steel, iron ore and coking coal, the first of which began in 2008.

Source : Platts

voda 1 september 2015 16:40

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Tegengas!

S&P upgrades 2015 iron ore price forecast to USD 50

Standard & Poor’s Monday revised upwards its price assumption for iron ore in 2015 to USD 50 per DMT CFR, basis Platts 62% Fe, from USD 45 per DMT earlier due to low inventory levels in China and slower than expected supply growth from Australia and Brazil. But the ratings agency downgraded slightly its iron ore price outlook for 2017 to USD 50 per DMT CFR from USD 55 per DMT while maintaining its 2016 assumption at USD 50 per DMT.

In a Metals Prices Assumptions update Monday, S&P, which like Platts is part of McGraw Hill Financial, said it expected the iron ore supply and demand imbalance to remain for another two years.

S&P warned that major iron ore producers were bringing on more expansion tons while displacement of Chinese higher-cost domestic supply had occurred more slowly than expected. S&P said “Softer demand growth from China could also exacerbate the oversupply and increase the downside risk associated with iron ore prices. All iron ore producers continue to reduce costs, a process that could support a further shift in the global cash-cost curve and potentially lower prices.”

Source : Platts

voda 1 september 2015 16:41

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Mr Clive Palmer demands AUD 10 billion damages from Citic

The Australian reported that the legal war between Clive Palmer and the Chinese government’s overseas investment company CITIC has escalated with a new salvo fired by the tycoon, who now demands $10 billion in damages. Mr Palmer, who has not received mining royalties from his iron ore tenements because of an unresolved legal dispute with China’s Citic group over the amount payable, said in Brisbane that he had instructed lawyers to file the action in Perth’s Supreme Court.

He wants to sever all ties with the Chinese side, which has spent $10 biion developing the project and began exporting iron ore in December 2013.

The action comes a fortnight after a Federal Court judge made scathing findings about the reliability of geology reports on the quality of the tenements, which delivered a USD 415 million windfall from the Chinese to the Palmer United Party leader. Judge James Edelman, who delivered a strong rebuke to Mr Palmer in the last case and described some of his legal team’s arguments as “simply false”, lamented the costly, time-consuming litigation. He said “The litigation between the parties, and the associated uncertainty, might last for years. It could consume many more millions of dollars in legal fees. These consequences offer no advantage to anyone. They might be avoided if the parties are able to negotiate in a commercial manner, reasonably, and in good faith, towards terms that will clarify their rights and expectations for the long term. Such negotiation might have good prospects of success if it could take place without the shadow of existing or threatened litigation.”

However, Mr Palmer raised the stakes with his bid for $10bn damages, which he said was calculated from the “net present value” of royalties he demands from the Chinese side. He said “This is purely in respect to money that they owe us from minerals they have taken from Australia back to China, and not paid even one cent for,” he said at the Brisbane office of his flagship company Mineralogy.”

Source : The Australian

Bijlage:

voda 1 september 2015 16:42

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Australian iron ore exports to China in Q2 up by 6% YoY

According to a report of the China Resources Quarterly released earlier this month, in the second quarter of this year Australia’s exports of iron ore to China increased by six percent year on year to 155 million tonnes. In the same period, despite the increase in export volumes, iron ore export earnings declined by 30 percent year on year to $A9.4 million ($6.7 million), following a 43 percent decrease in the price of iron ore.

According to the report, the fall in most commodity prices began in 2014 and in the April-June period of this year most commodity prices continued to decline driven largely by an ongoing increase in supply, while China’s demand for most imported raw materials has been reasonable in volume and Australia’s overall export earnings from trade with China has declined due to sharp falls in the price of most metals and energy products.

Meanwhile, in the second quarter of the current year, China’s steel production recorded a decrease of one percent to 208 million mt in line with the decrease of four percent in iron ore imports to 226 million mt, both year on year, while Australia’s share of these imports continued to decrease from 59 percent recorded in the second quarter of the previous year to 65 percent in the same period of this year.

Source : SteelOrbis

Bijlage:

voda 1 september 2015 16:43

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Analysts see iron ore dipping to USD 45 as supplies increase

Bloomberg reported that according to Capital Economics Ltd, ever expanding supplies from the world’s largest producers mean prices will fall through the end of the year. The London based research firm joins banks including Goldman Sachs Group Inc and UBS Group AG in predicting lower prices.

Ms Caroline Bain, a senior commodities economist at Capital Economics said “The steel making ingredient will drop to USD 50 a metric ton at the end of September and USD 45 by the end of the year.”

She said “The catalyst for the renewed decline will mainly be on the supply side as the Australian producers continue to ramp up output. Mining giants Rio Tinto Group and BHP Billiton Ltd. are increasing production to boost sales volumes and cut costs, expanding a glut even as China, the biggest buyer, slows. Then there’s new supply due to appear on the market, in the form of ore from Australian billionaire Gina Rinehart’s A$10 billion ($7.1 billion) Roy Hill mine that will come on line later this year, Bain said. Rio Tinto is forecasting new supply will total 110 million tons this year.”

Jeremy Sussman, an analyst at Clarksons Platou Securities Ltd., is more bearish, estimating an average of UBS 40 a ton.

UBS forecast on Aug. 17 that iron would average USD 51 a ton in the second half.

Goldman forecast iron ore averaging USD 48 a ton in the final three months of 2015, according to a report dated Aug. 14.

Source : Bloomberg

max21 1 september 2015 22:08

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www.demorgen.be/binnenland/drie-perso...

BINNENLAND
Drie personen opgepakt voor stelen van 870 kg metaal bij ArcelorMittal

31-08-15, 18.02u - Bron: Belga
LEES LATER

1 ©PHOTO NEWS
Drie personen, tussen 35 en 58 jaar, zijn ter beschikking gesteld van het parket van Luik voor diefstal van 870 kilogram metaal van staalbedrijf ArcelorMittal.

Het drietal, waarvan twee afkomstig uit Seraing, werden vandaag rond 3 uur door de politie onderschept toen ze een terrein van ArcelorMittal verlieten. De knalpot van hun voertuig sleepte over het wegdek.

Bij controle ontdekten de agenten een aanzienlijke hoeveelheid gestapelde metalen buizen in de wagen. De goederen werden in beslag genomen. Bij de weging bleek er 870 kilo metaal in het voertuig te liggen.

De drie verdachten ontkennen dat het diefstal betreft, ze hadden het materiaal op straat gevonden, verklaarden ze.

voda 2 september 2015 16:25

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Economie Australië voelt zwakker China

Gepubliceerd op 2 sep 2015 om 08:51 | Views: 2.545

SYDNEY (AFN/BLOOMBERG) - De economie van Australië is in het tweede kwartaal veel minder sterk gegroeid onder druk van een zwakkere export naar de belangrijke handelspartner China. Dat blijkt uit cijfers die de Australische overheid woensdag naar buiten bracht.

De groei kwam uit op 0,2 procent in vergelijking met het voorgaande kwartaal, toen de Australische economie nog met 0,9 procent groeide. Dat is de zwakste groei sinds 2011. Australië is een belangrijke producent van grondstoffen en heeft daarom veel last van de gedaalde prijzen van grondstoffen en een zwakkere vraag naar onder meer ijzererts vanuit China.

De economie van Australië wist wel te profiteren van hogere uitgaven van de overheid en consumenten. Om de economie te ondersteunen, werd de rente in Australië dit jaar twee keer verlaagd.

voda 2 september 2015 16:47

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ArcelorMittal Bremen renews IT partnership with CGI

ArcelorMittal Bremen has renewed its partnership with CGI after outsourcing its IT services to the Montreal-based firm five years ago.

CGI has managed ArcelorMittal Bremen two data centers in Bremen for the past five years, providing IT infrastructure support, while maintaining all applications developed by ArcelorMittal Bremen, as well as other warehousing and automated production control systems. In addition, CGI has provided field service support for approximately 2,000 Windows end-user systems.

CGI said the scope of its activities at ArcelorMittal Bremen has expanded considerably over the course of the engagement. CGI was given responsibility for an additional 180 production control systems as a result of its success, effectively doubling the contract volume.

Mr Tobias Jänich, CGI vice-president of outsourcing for Germany, said “Nothing demonstrates our commitment to ArcelorMittal Bremen better than the extension of this collaboration. Today we take on more tasks for ArcelorMittal Bremen, and, more importantly, we take over critical tasks. We are honored to be able to continue this very successful partnership.”
Source : Strategic Research Institute

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